Real Estate Laws & Customs By State - Fidelity National Title Insurance Company

- 10 - REAL ESTATE LAWS & CUSTOMS BY STATE DELAWARE Title Insurance Rates Filed Form of Conveyance Special Warranty Deed; Quitclaim Deed; General Warranty Deed State Encumbrance Forms Mortgage Customary Closing Entity Attorney (required by law) Commitment Issued? Duration? Yes. 6 months. When is Invoice Issued? With Commitment Deed Transfer Tax? Yes, Realty Transfer Tax Mortgage Tax? No Leasehold Tax? No, except residential leases more than 5 years (including optional renewal periods) CUSTOMARY FEE SPLITS Owner’s Policy Premium Buyer pays Loan Policy Premium Buyer pays Title Search & Examination Buyer pays Survey Charges Buyer pays; sometimes negotiated Deed Transfer Tax Seller pays; customarily divided equally Mortgage Tax Not applicable Closing Fees Negotiable Recording Fees Buyer pays